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Q:
accounting help!!!!

AC2760

Week 2
Assignment

Read the
following scenario, and complete the form on the following worksheet:

On March 1, 2012, Mitch Quade established Mitch Realty, which
completed the following transactions during the month:

(a)

Mitch Quade
transferred cash from a personal bank account to an account to be used for
the business in exchange for capital stock, $18,000.

(b)

Purchase supplies on
account, $1,200.

(c)

Earned sales
commission, receiving cash, $14,000.

(d)

Paid rent on office
and equipment for the month, $2,800.

(e)

Paid creditor on
account, $750.

(f)

Paid office salaries,
$3,000.

Instructions:

1

Journalize entries for
transactions (a) through (f).Omit the
journal entry explanations. Please use the drop-down list (right of the cell)
to enter the account description box on the worksheet.

2

Post the journal
entries the T accounts, placing the appropriate letter to the left of each
amount to identify the transactions.
Determine the account balance after all posting is complete.Accounts containing only a single entry do
not need a balance.

3

Prepare and unadjusted
trial balance as of March 31, 2012.

Jul 14 2013 06:40 PM

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